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Artificial Intelligence (AI)-Powered Meeting Assistants Market Size Projected To Reach $7.65 Billion By 2034 With A Cagr Of 24.7%
Artificial Intelligence (AI)-Powered Meeting Assistants
What Is the Projected Growth of the Artificial Intelligence (AI)-Powered Meeting Assistants Market?
The market for AI-enabled meeting assistants is expanding rapidly in recent years. The market value is projected to rise from $2.53 billion in 2024 to $3.16 billion in 2025, marking a 24.9% CAGR. The historic period's growth can be tied to the surge in cloud computing, the expansion of internet accessibility, advancements in natural language processing, the early embrace of artificial intelligence in business tools, the popularity of digital note-taking applications, and the widespread use of smartphones and smart devices.
The market size of AI-enabled meeting assistants is anticipated to witness a significant surge in the coming years, reaching a value of $7.65 billion in 2029 with a CAGR of 24.7%. The progression during the prediction period can be associated with the growing demand for emotion-based artificial intelligence, amalgamation with enterprise information resources, increased interest in personalized meeting experiences, mounting focus on meeting data analysis, and adoption of artificial intelligence for meeting regulation. Main trend movements in the prediction period encompass developments in machine learning algorithms, advances in real-time sentiment analytics, flawless amalgamation with productivity software, AI-driven video reviews and highlights, and multimodal AI integration.
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What Are the Different Artificial Intelligence (AI)-Powered Meeting Assistants Market Segments?
The artificial intelligence (AI)-powered meeting assistants market covered in this report is segmented -
1) By Component: Software, Hardware, Services
2) By Deployment: On-Premises, Cloud
3) By Application: Speech-To-Text Transcription, Automated Scheduling, Action Items And Task Management, Real-Time Translation And Language Support, Artificial Intelligence (AI)-Powered Insights And Analytics, Other Applications
4) By End-User: Banking, Financial Services, And Insurance, Healthcare, Retail, Information Technology And Telecommunications, Other End-Users
Subsegments:
1) By Software: Speech Recognition Software, Natural Language Processing (NLP) Software, Virtual Meeting Assistant Software, Artificial Intelligence-Powered Transcription Software, Meeting Scheduling Software, Collaboration Software With Artificial Intelligence
2) By Hardware: Artificial Intelligence (AI)-Powered Smart Devices, Artificial Intelligence (AI)-Integrated Cameras For Meetings, Wearable Artificial Intelligence (AI) Devices For Meetings, Artificial Intelligence (AI)-Based Sensors
3) By Services: Artificial Intelligence (AI)-Based Meeting Management Services, Artificial Intelligence (AI)-Driven Data Analytics And Insights, Artificial Intelligence (AI)-Powered Meeting Integration Services, Artificial Intelligence (AI)-Training And Support Services For Meeting Platforms, Artificial Intelligence (AI) Consulting For Meeting Optimization
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What Are the Primary Drivers Shaping the Artificial Intelligence (AI)-Powered Meeting Assistants Market?
The surge in the adoption of remote work styles is predicted to fuel the expansion of the AI-enhanced meeting assistants market. These work formats imply scenarios where staff members function outside the conventional office atmosphere, like completely remote, mixed, or adaptable timetables. Remote work imparts more versatility, aiding staff in achieving an improved work-life equilibrium, ensuing in enhanced efficiency and job contentment among staff. AI-enhanced meeting assistants promote remote work styles by systemizing note-taking, task management, and organizing, thereby boosting competence and cooperation. For instance, the Office for National Statistics, an independent UK-based official statistics manufacturer, revealed in February 2023 that between September 2022 and January 2023, 16% of people worked remotely and 28% worked hybrid. Working from home or in a hybrid manner was widespread among top earners, degree holders, and specialists. Self-employed persons had double the propensity to work remotely. Consequently, the escalation in the adoption of remote work styles is stimulating the development of the AI-intensified meeting assistants market.
Which Companies Are Leading in the Artificial Intelligence (AI)-Powered Meeting Assistants Market?
Major companies operating in the artificial intelligence (AI)-powered meeting assistants market are Zoom Communications, Rev.com, Notion AI, Dialpad Inc., Gong.io Inc., Otter.ai, Krisp Technologies Inc., Supernormal, Avoma Inc., Clara, Read AI Inc., Sembly AI., Fathom AI, Fireflies.ai Corp., Laxis Inc., Airgram Inc., TLDV, Fellow.app, Grain.co, MeetGeek.ai.
What Are the Major Trends Shaping the Artificial Intelligence (AI)-Powered Meeting Assistants Market?
Significant players in the AI-fueled meeting assistant sector are directing their efforts towards the innovation of advanced tech such as the novel generative AI assistants. These are designed to enhance efficiency, seamlessly organize meeting processes and deliver useful insights. This emerging generative AI assistant is an sophisticated software tool that leverages AI to facilitate tasks like language comprehension, content generation, data summarization, decision-making support, and real-time interaction enablement in diverse scenarios like meetings, emails and customer dealings. For instance, in September 2023, US-based telecommunications tech firm, Zoom Communications Inc., introduced the Zoom AI Companion, a generative AI assistant intended to enhance efficiency and teamwork within its platform. This AI companion provides real-time meeting roundup, clever segmenting and in-meeting inquiry resolution. Post-meetings, it generates summaries, highlights tasks requiring action and monitors the following procedures. These functionalities are designed to uncomplicate work procedures and augment team efficiency, and they are accessible to Zoom Workplace users without any additional costs.
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What Are the Top Revenue-Generating Geographies in the Artificial Intelligence (AI)-Powered Meeting Assistants Market?
North America was the largest region in the artificial intelligence (AI)-powered meeting assistants market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence (AI)-powered meeting assistants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Artificial Intelligence (AI)-Powered Meeting Assistants Market?
2. What is the CAGR expected in the Artificial Intelligence (AI)-Powered Meeting Assistants Market?
3. What Are the Key Innovations Transforming the Artificial Intelligence (AI)-Powered Meeting Assistants Industry?
4. Which Region Is Leading the Artificial Intelligence (AI)-Powered Meeting Assistants Market?
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